Participant homebuyer-builders will perform select tasks to gain some “sweat equity” to reduce the cost of the home and obtain low interest loans with payments tailored to fit your budget. St. Vincent de Paul may assist with funding to help further reduce the USDA loan. All of this, along with help from a home builder with years of self-help affordable housing expertise, make this a great opportunity.

What’s required?

Minimum estimated annual gross income needed is $28,500.

Adjusted annual household income must not exceed 80% of Lane County Median Income per household size. Example: For a household with 4 persons, the adjusted income cannot exceed $51,300 per year.

80% of Lane County Median Income

Maximumincome

Householdsize

$35,950

1

$41,050

2

$46,200

3

$51,300

4

$55,450

5

$59,550

6

$63,650

7

$67,750

8

See the chart at right.

Homebuyer Training Course Completion Certificate.

The Applicant/Homebuyer must be able to qualify for the primary home loan to purchase the lot and for construction of the home.

Participants provide a minimum of 50 hours of ‘sweat equity’ labor for one person on the title, or a mimum of 100 hours for two persons on the title. Some volunteer help must be utilized.

HOYOP benefits:

Affordable monthly payment to fit your budget

No down payment required and 100% financing is possible.

USDA funded loan with as low as 1% interest rate with subsidy provision.